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PrintPreferencesHelpLab 2 (Question 5)Name: Frédérique VauclairDate: 2020-01-26 17:41Question 5 [18 points]The price of apples per kilogram is given in the table below for several years, as is the corresponding CPI.a)Compute a nominal price index for apples using 2003 as the base period.20052007200920112013Nominal apple price $2.903.402.502.703.402.80CPI107110112114118122b)Recompute the CPI using 2003 as the base year.c)Construct a real price index for apples.200320052007200920112013Nominal apple price $2.903.402.502.703.402.80CPI107110112114118122YearNominal PriceIndex200302005020070200902011020130YearConsumer PriceIndex200302005020070200902011020130YearReal PriceIndex200302005020070
Marking:(a)0 The correct amount should be 100, however you have not entered this. This will cost you 1 mark.0 The correct amount should be 117, however you have not entered this. This will cost you 1 mark.0 The correct amount should be 86, however you have not entered this. This will cost you 1 mark.0 The correct amount should be 93, however you have not entered this. This will cost you 1 mark.

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